London based artisan craft brewery preserves jobs following acquisition deal

A team from Evelyn Partners LLP has concluded the sale of the business of the London based artisan craft brewery Brew by Numbers Ltd (‘BBNo’) to Breal Capital.

Finbarr O’Connell and Colin Hardman of Evelyn Partners were appointed joint administrators of BBNo on June 14 2023 and continued trading the brewery whilst conducting a sale process of the business. The deal has preserved the jobs for all employees of the business.

BBNo is well-established, operating as a microbrewery with a taproom in London and an e-commerce sales channel. It was founded in 2011, the original brewery and taproom opened in Enid Street, at the heart of the popular ‘Bermondsey Beer Mile’.

In 2021 it moved its main production to a new brewery in Morden Wharf, Greenwich and added a 400-person capacity taproom and outdoor space on the banks of the River Thames.

Breal continued its strategy of brewery acquisitions, having earlier in 2023 concluded deals for Yorkshire based Black Sheep Brewery and Peckham based Brick Brewery. BBNo’s taproom at Morden Wharf will continue trading as normal, with minimal disruption.

Finbarr O’Connell, a partner at Evelyn Partners and a Joint Administrator of Brew by Numbers, commented: “We are delighted to have completed this sale to Breal, which we consider to be the best outcome for creditors and preserves all employment, while also maintaining a continuity of trade.

“We thank our advisers, especially our lawyers, Gowlings, and all the employees for their support in this process. We will be continuing to work with the new owners to ensure a smooth transfer of operations.”

Colin Hardman, a partner at Evelyn Partners and a Joint Administrator of Brew By Numbers, added: “We have seen widespread pressure in the brewing industry over the past few years due in particular to the Pandemic, the post-Brexit complexity of export paperwork, increased materials costs, reduced discretionary spending and changes to Beer Duty laws.

“This has resulted in numerous microbreweries being forced to close in recent years. It therefore comes as no surprise that the latest SIBA (Society of Independent Brewers) Craft Beer Report noted that 63 per cent of its members said their business priority is survival.

“We are therefore even more delighted to have rescued this pioneering and much-loved brand. We want to thank all the key stakeholders including staff, financiers and critical suppliers for helping make this happen.”

By Matthew Neville – Senior Correspondent, Bdaily

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